To put this into context, traditional FinTech investment in 2017 globally totalled circa $30 billion. ICOs have seen over 50% growth in value between January-May 2018 at $9.6 billion compared to the whole of last year at $6.1 billion. Since March 2016, there have been 861 ICO projects with a total value of $16 billion, 55% of which took place in the first five months of 2018 alone.
Business models that are seeing the highest surge in activity include money and commerce at 31.5% (such as finance, payments and trading exchange), system architecture at 28.7% (communication, data storage and AI), content at 25.3% (games, AR & VR, social media and advertising) and process at 14.5% (such as healthcare, gambling and supply chain).
Founder of London Fintech Week, Luis Carranza, says: “We are very excited by the news that ICOs could reach $40 billion in the next two years. We are witnessing the next form of FinTech evolve, and it’s not going anywhere anytime soon. Regulation in some legal domains is now adapting to this new FinTech phenomenon, bringing ICOs into a more recognisable framework.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.